Hess Midstream (NYSE:HESM) Hits New 1-Year High – Here’s What Happened

Hess Midstream LP (NYSE:HESM) shares reached a new 52-week high during trading on Friday . The stock traded as high as $42.31 and last traded at $42.11, with a volume of 444207 shares changing hands. The stock had previously closed at $40.68.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HESM. Wells Fargo & Company lifted their target price on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Citigroup lifted their price objective on Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Raymond James increased their target price on Hess Midstream from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Hess Midstream presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Hess Midstream Stock Performance

The company has a fifty day moving average price of $40.21 and a two-hundred day moving average price of $37.53. The company has a market capitalization of $9.18 billion, a P/E ratio of 16.91 and a beta of 1.48. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70.

Hess Midstream (NYSE:HESM) last issued its earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. Equities analysts forecast that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were paid a $0.7012 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.66%. The ex-dividend date of this dividend was Thursday, February 6th. This is an increase from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s payout ratio is presently 112.45%.

Insider Buying and Selling at Hess Midstream

In other Hess Midstream news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Institutional Trading of Hess Midstream

Several hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC grew its holdings in shares of Hess Midstream by 77.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock worth $49,000 after acquiring an additional 579 shares during the period. US Bancorp DE grew its stake in shares of Hess Midstream by 34.0% in the fourth quarter. US Bancorp DE now owns 2,010 shares of the company’s stock worth $74,000 after acquiring an additional 510 shares during the period. KBC Group NV grew its position in Hess Midstream by 83.9% in the 3rd quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after purchasing an additional 1,279 shares during the period. Millburn Ridgefield Corp purchased a new stake in Hess Midstream during the 3rd quarter valued at $100,000. Finally, IFP Advisors Inc lifted its holdings in shares of Hess Midstream by 33.3% during the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company’s stock valued at $109,000 after buying an additional 733 shares during the period. 98.97% of the stock is owned by institutional investors.

About Hess Midstream

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.